'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
Housing sector to benefit from Budget.
Smart homes that do your everyday tasks are now coming on the Indian market. Several real estate firms are making this reality as they venture into constructing automated homes.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Mumbai developers are battling high inventory.
In Mumbai, developers like the R K Jatia and Lodha groups have launched or reopened ultra luxury residential projects, complete with limousine and concierge services.
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
Delayed project delivery and unrealistically high real estate prices, which developers are unwilling to lower despite piled up inventories, have adversely hit the sector.
